changing tempo is as easy as automating the Tempo using edit events or an automation clip (do you know how to do this?)

changing time signature, is a little more problematic, although I do know that you can change the number of beats in each pattern (upper left corner of step sequencer)
(someone else chime in on this one)

I don't know of any way to actually change the time signature on the fly. Personally, I just start writing in the new time signature and ignore the markers. It can get a bit confusing, but it still works.

changing tempo is as easy as automating the Tempo using edit events or an automation clip (do you know how to do this?)

changing time signature, is a little more problematic, although I do know that you can change the number of beats in each pattern (upper left corner of step sequencer)(someone else chime in on this one)

Well I'm actually kind of trying to decide whether to use this program or a different one. Tempo changing is high priority for me. I just needed to know if it was possible. So thanks

Chaning tempo is relatively easy, and it's very easy even to have a varying tempo, you could even hook it up to an LFO if you so chose, time signatures are trickier, but I think you can just change the beats per bar as you need to, do the first part in the time signature you want then switch it (I don't think it affects things you've already recorded, but I could be wrong) You could then just continue recording and switch it as you record in different signatures. I think it would work, I'll check when I have a chance.